Sunday, November 27, 2016

Let's take the challenge

Indian Prime Minister: "we can gradually move from a less-cash society to a cashless society...this is the chance for you to enter the digital world."

We have a clash of freedom fighters, one says keep paper cash, the other says go to Bitcoin and equivalent. I think the fear of central banks getting hold of technology is unfounded. Central bankers think they know the game, they want to control transactions on the cheap. Central bankers will eventually get the news about Smart Cards, and change their tune about digital cash. I say we call their bluff. If we cannot create the Smart Card code then we deserve the socialist price fixing we are going to get.